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Metropolitan St Hospital siteCOMPLETED DISPOSITION OF STATE-OWNED REAL PROPERTY
FORMER METROPOLITAN STATE HOSPITAL “MAIN CAMPUS SITE,” LEXINGTON

DESCRIPTION OF PROPERTY
The Commonwealth of Massachusetts through its Division of Capital Asset Management and Maintenance (“DCAM”) entered into a Land Disposition Agreement with Developer AvalonBay Communities, Inc. on December 3, 2003 for the redevelopment of the “Main Campus” site, a portion of the former Metropolitan State Hospital campus. The site offers an exciting and rare opportunity for AvalonBay Communities, Inc. to develop 387 units of luxury apartments on the 23-acres parcel of land in the town of Lexington. Consistent with the historic integrity of the site, the housing will complement the original 640,000 square-foot layout perched atop a hill with spectacular views of the surrounding area.


DISPOSITION PROCESS & ECEONOMIC BENEFITS
In 1994, the Metropolitan State Hospital Reuse Plan was prepared as a collaborative effort of DCAM, Metropolitan District Commission (“MDC”), Department of Mental Health (“DMH”), and the Massachusetts communities of Belmont, Lexington, and Waltham. The Reuse Plan incorporated the housing, recreational, and open space needs of these communities with those of the Commonwealth of Massachusetts in developing long-range reuse plans for the campus site.
AvalonBay proposes to develop 387 units of rental housing within the existing, and historic, architectural layout of the campus, and preserving much of the building structures including the Clock Tower and Kline Hall. The luxury apartments will be one- and two-bedroom units with some three-bedroom units. Twenty-five (25%) percent of the units will be available for below-market rents, of which 10% will be available to clients of the Department of Mental Health on- and off-site. There will also be apartments reserved for residents age 55 and older. The development is surrounded by over 250 acres of preserved land for open space and recreation. The density of the new project will be lower than the original use as a hospital.
Construction completion for the “Avalon at Lexington Square” is projected for Spring 2007.